Bioventus (NYSE:BVS) Sets New 52-Week High After Analyst Upgrade

Bioventus Inc. (NYSE:BVS)’s share price reached a new 52-week high during mid-day trading on Friday after Craig Hallum raised their price target on the stock from $12.00 to $17.00. Craig Hallum currently has a buy rating on the stock. Bioventus traded as high as $12.34 and last traded at $12.05, with a volume of 154886 shares changing hands. The stock had previously closed at $11.05.

Separately, Canaccord Genuity Group boosted their price target on shares of Bioventus from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th.

Insider Activity

In other Bioventus news, Director John A. Bartholdson purchased 25,500 shares of Bioventus stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the completion of the transaction, the director now owns 6,939,357 shares of the company’s stock, valued at approximately $59,331,502.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John A. Bartholdson purchased 80,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $8.55 per share, for a total transaction of $684,000.00. Following the completion of the transaction, the director now directly owns 6,913,857 shares in the company, valued at $59,113,477.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Bartholdson acquired 25,500 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $8.55 per share, for a total transaction of $218,025.00. Following the transaction, the director now directly owns 6,939,357 shares of the company’s stock, valued at $59,331,502.35. The disclosure for this purchase can be found here. Corporate insiders own 32.90% of the company’s stock.

Hedge Funds Weigh In On Bioventus

Large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Bioventus by 5,367.9% in the second quarter. Rhumbline Advisers now owns 52,437 shares of the company’s stock worth $302,000 after purchasing an additional 51,478 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Bioventus during the 2nd quarter valued at $647,000. LSV Asset Management bought a new position in Bioventus in the 1st quarter valued at $1,170,000. Lazard Asset Management LLC purchased a new stake in Bioventus in the first quarter worth $40,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Bioventus during the fourth quarter valued at $85,000. 62.94% of the stock is owned by hedge funds and other institutional investors.

Bioventus Trading Up 5.3 %

The stock has a market capitalization of $942.49 million, a P/E ratio of -33.26 and a beta of 0.89. The stock’s fifty day moving average price is $9.23 and its 200 day moving average price is $6.88. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.33 and a quick ratio of 0.96.

Bioventus (NYSE:BVS) last issued its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Bioventus had a negative net margin of 7.82% and a positive return on equity of 14.39%. The business had revenue of $151.22 million for the quarter, compared to analyst estimates of $137.70 million. During the same period last year, the company posted $0.14 earnings per share. Research analysts forecast that Bioventus Inc. will post 0.4 earnings per share for the current year.

Bioventus Company Profile

Bioventus Inc, a medical device company, focuses on developing and commercializing treatments that engage and enhance the body's natural healing process in the United States and internationally. The company's product portfolio includes pain treatments, which comprise non-surgical pain injection therapies, as well as peripheral nerve stimulation products, such as Durolane, GELSYN-3, and SUPARTZ for the treatment of knee osteoarthritis and Stimrouter to treat chronic peripheral pain.